Industrial Internet of Things (IIoT)

Global Industrial Internet of Things (IIoT) Market to Reach US$136.8 Billion by 2030

The global market for Industrial Internet of Things (IIoT) estimated at US$96.1 Billion in the year 2024, is expected to reach US$136.8 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2024-2030. Sensor, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$40.2 Billion by the end of the analysis period. Growth in the RFID segment is estimated at 6.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$26.5 Billion While China is Forecast to Grow at 5.7% CAGR

The Industrial Internet of Things (IIoT) market in the U.S. is estimated at US$26.5 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.3 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 5.6% and 4.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.0% CAGR.

Global Industrial Internet of Things (IIoT) Market - Key Trends & Drivers Summarized

How Is IIoT Transforming Industrial Operations?

The Industrial Internet of Things (IIoT) is redefining industrial processes by enabling connectivity across machines, sensors, and control systems. By connecting these devices, IIoT facilitates real-time data collection, predictive maintenance, and enhanced decision-making. This technology is particularly transformative in manufacturing, energy, and logistics, where real-time insights can lead to more efficient operations and reduced downtimes. As industries prioritize efficiency and cost reduction, IIoT’s ability to streamline processes and optimize resource usage has made it indispensable in the shift towards smart manufacturing.

What Security and Compliance Challenges Accompany IIoT Adoption?

While IIoT offers numerous benefits, it also introduces challenges related to cybersecurity and data compliance. The interconnected nature of IIoT systems increases the risk of cyber-attacks, prompting industries to adopt more robust security protocols and comply with data protection standards. Ensuring the integrity and confidentiality of operational data is crucial, especially in critical infrastructure sectors like energy and transportation. Furthermore, global data protection laws require companies to handle information responsibly, adding another layer of complexity to IIoT adoption. As industries embrace IIoT, addressing these security and compliance concerns is critical to maintaining safe and reliable operations.

How Is Edge Computing Enhancing IIoT Capabilities?

Edge computing has emerged as a powerful complement to IIoT, enabling data processing closer to the source rather than relying on centralized cloud servers. This approach reduces latency, enhances data security, and enables real-time decision-making, particularly in sectors that require immediate responses, such as manufacturing and healthcare. By combining IIoT with edge computing, companies can process and analyze data at the device level, leading to quicker insights and less network congestion. This synergy between IIoT and edge computing is expanding the scope of IIoT applications, making it possible to implement highly responsive systems across industries.

The Growth in the IIoT Market Is Driven by Several Factors

The growth in the IIoT market is driven by several factors, including advancements in sensor technology, the demand for real-time data analytics, and the need for predictive maintenance. As industries aim to improve operational efficiency, IIoT enables better monitoring of machinery and processes, helping reduce downtime and maintenance costs. The rise of smart factories and Industry 4.0 is also fostering IIoT adoption, as companies seek interconnected systems that support automation and data-driven decision-making. Additionally, the increasing focus on safety and compliance is pushing industries to adopt IIoT solutions that provide enhanced monitoring and risk management. Combined, these factors are propelling the IIoT market’s rapid expansion in various industrial sectors.

SCOPE OF STUDY:

The report analyzes the Industrial Internet of Things (IIoT) market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Device & Technology (Sensor, RFID, Industrial Robotics, DCS, Smart Beacon, Other Device & Technologies); End-Use (Manufacturing, Energy, Oil & Gas, Metal & Mining, Agriculture, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 91 Featured) -

• ABB Group
• Cisco Systems, Inc.
• Dassault Systemes
• General Electric Company
• Honeywell International, Inc.
• Huawei Technologies Co., Ltd.
• IBM Corporation
• Intel Corporation
• KUKA AG
• NEC Corporation
• PTC, Inc.
• Robert Bosch GmbH
• Rockwell Automation, Inc.
• Siemens AG
• Texas Instruments, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.